Wall Street rebounds ahead of FOMC

Major equity indexes in the U.S. rebounded on Tuesday and took back yesterday's losses as technology stocks rebounded and bank shares recorded gains on the expectations of a 25 bps rate hike announcement tomorrow. Furthermore, rising crude oil prices helped the energy shares built on their recent earnings.

After falling sharply for two straight sessions, the S&P 500 technology sector .SPLRCT gained 0.7%, while the financial sector .SPSY added 0.5% and the energy sector .SPSY rose 0.7%. Commenting on today's rebound witnessed in tech stocks, "the selloff in tech probably was a bit further than people expected, so there is some bargain hunting back into that sector," Rick Meckler, president of LibertyView Capital Management, told Reuters.

The Dow Jones Industrial Average added 92.80 points, or 0.44%, to 21,328.47, the S&P 500 rose 10.75 points, or 0.44%, to 2,439.05 and the Nasdaq Composite gained 39.82 points, or 0.64%, to 6,215.29

Headlines from the U.S. session:

• U.S. Attorney General Sessions : Suggestion I colluded with Russia is 'appalling'
• Gold Intermarket: making a comeback on lower US yields
• US Dollar eases below 97 as investors gear up for FOMC meeting
• US Retail Sales: A modest rise is expected in May - Wells Fargo
• U.S. Treasuries virtually unchanged ahead of FOMC
• EM's: rethinking the Fed tightening expectations - BBH
• Moody’s: Fed seen hiking rates to about 3% by end-2019